Financial Stability Board Releases Paper on Currencies Benchmarks

Follows Global Investigations Into Their Integrity

The Financial Stability Board released a consultation paper Tuesday to flesh out possible ways in which currencies benchmarks might be altered in the wake of global investigations into their integrity, with the focus falling largely on the behavior of traders.

The Basel-based FSB, which coordinates global financial regulatory efforts, said in a statement that it is seeking comments from market participants on remedies including widening the time period over which benchmark rates are calculated, and establishing controls...